Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

If that person were to get hurt somehow and then expect you to pay the medical bills or become disgruntled in some way it is just a phone call to DOR, OSHA or L&I. 

Whichever direction you go, be sure to work with folks who understand this and gives you the confidence to take reasonable action - I'd personally take an okay investment and weather the storm for a few years that will eventually perform well, and do that each year - rather than take 3 years to wait for the best deal possible.

instead, why not find a market 1-2 hours away where you can be hands-on / in-person?

You could do something like what you want if it was your personal primary residence and even then the interest rate would be ugly. 

I personally did a couple last year that I self furnished and self manage while working full time.  

This could give you the cash you need for the purchase and also eliminate your personal guarantee for the loans.

Require co-signers (like their parents), check references from previous landlords or college housing, verify enrollment status, and personal interviews to gauge responsibility.6.

It can be personally designed post cards or it can be letters. 

Generally there are multiple units for each "zone" if you will when I've seen them installed.Regarding your problem at hand, I personally would simply adjust your plan to move and make your initial plan to get the current issues resolved, while costly now, in the long run holding onto the unit will likely pay off.